Imports
Imports are when you are produced goods and services from foreign countries
Imports aren't bad as even they are important as equally as exports
Countries import goods, service and capital from other foreign countries that export
Positives Of Higher Imports
Imports gives the country to gain opportunity of gaining access to a broader range of products from a market
Imports also equally give a opportunity to experience new market
Imports can be helpful to supply raw materials in a country that lacks certain goods or material
There can be more imports to balance deflation and inflation
Negatives Of Imports And Impact On Economy
Import can highly impact a economy in a negative way by many terms, one of the major negatives of import is that it highly impacts the local market as they get less opportunity due to more international imports
Imports create trade deficit causing to very high inflation
A case study says that inflation can be good to increase capital formation, while economist in Philippi's suggest that inflation is bad due to the lower employment it creates, as currency dont value firms cant afford to pay workers due to sudden inflation, this crease unemployment
Between 1970s–1980s, GDP growth rose from 3.5% to 5.5%, while inflation also rose. This seems to support the idea that inflation and growth can rise together.
Import also has a negative to depend on foreign countries as you dont have a proper national market you will soon start depending on mnc and international imports
